QLD Mitchelton v Keperra v Aspley investment

Hello!

We have approval for 1 mil and want to purchase an investment property to buy and hold and achieve capital growth over the next 10 years. I’d prefer to borrow less to reduce our risk and have been looking at Keperra and Mitchelton (also Aspley).

Do you think it would be more wise to spend a bit more to get something in Mitchelton that’s already had a bit more growth or a bit less and go for Keperra. Also what sort of price limits for each suburb do you think is realistic (I was thinking $750 for Keperra (or Aspley) and maybe $800-$850 for Mitchelton.

I live in Banyo and don’t know the north west well - any info on pockets to avoid, what suburb you think would be a wiser investment I’d appreciate.

Also do you think that the market will slow and plateau a bit by Oct/Nov and it’s better to wait or better to by now as it won’t go backward?

Thanks in advance!! ☺️

 

Both good areas that you’ll do well in.

 

@Lisa.S.Property I honestly believe if you wait a few months you will be priced out of some areas as the market is NOT slowing down. To see price growth plateau (or even priced fall) we would need to see either a huge increase in the number of properties available for sale (VERY unlikely) or we would need to see a huge DECREASE in the number of buyers looking to buy (also VERY unlikely). So my advice is to buy when you can afford to do so and if you are ready now - it is definitely time to get into the market. You will thank yourself by the end of the year

 

Hi Lisa,
this is my opinion only not advice. I would be inclined to spend the extra money in Mitchelton. People who can buy there will need to have a higher income to afford the rent/mortgage. Higher incomes push up house prices which makes for better capital gains on your investment property. People who can afford the area are more willing to splash more cash and compete with each other. This ripple effect is definitely making keperra, and the hills district boom as well but the average income of the owner occupiers here is keeping this area relatively affordable for now compared to Stafford, Mitchelton and the Gap etc.

 

I dont think market is going to slow.IMO prefer Mitchie next $1m suburb, as other pointed people who cannot afford say Ashgrove will move outwards to next suburbs say Mitchie which is also on the train line in case if qld govt comes up with new policy changes on train line properties.